Just getting around to scouting the Disney news a little late tonight (finished two final papers for the summer semester tonight, so nice to have a couple of weeks of relief).
Anyhow, I hit Google and came up with this whopper of a headline from an LA Times blog right off the bat:
In the brief blog post from Tom Petruno he compares Exxon's recent record breaking quarter to yesterday's quarterly announcement for Disney.
Apparently according to Tom we shouldn't feel too bad for Exxon, their profit margin was only 8.5% compared to Disney's 13.9%. It's an interesting, if slightly strange read.
In other news, Disney's stock fell about 4% today. According to Forbes it was because of announcements of a weakening ad market for those lucrative cable channels and 'lackluster box office results' in yesterday's earnings call.
I still maintain that is a bunch of baloney about the studio. Nobody in their right mind expects Narnia to be a Pirates. Narnia is a great series of stories, but they have no major star power (thought the kids ARE cute) and frankly a much narrower demographic than a Pirates movie. They will make money for the company in the long hall, especially when they get to DVD. But they will NEVER be a Pirates, plain and simple.
My guess is there was a good bit of profit taking in there by people/traders who bought the earnings bounce from a week or so ago when the stock dipped below $30.
If you could make a couple bucks on a nice chunk of shares in a couple of weeks wouldn't you?
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